Cellmid 2017 Annual Report 19
Events since the end of the financial year
There have been no significant events since the closing of the 2017 financial year.
Likely developments and expected results of operations
The Group is focused on developing both its Consumer Health and Midkine businesses in the coming year. Maximizing market
penetration for the Groups’ FGF5 inhibitor hair loss products in Australia and internationally will be the focus of the Consumer
Health business. The Group will also continue to progress its midkine assets in its dedicated wholly owned subsidiaries,
Lyramid and Kinera.
Environmental regulations
The Group’s operations are not regulated by any significant environmental law of the Commonwealth or of a state or territory
of Australia or Japan.
Proceedings on behalf of the Company
No person has applied to the Court under section 237 of the Corporations Act 2001 for leave to bring proceedings on behalf
of the Group, or to intervene in any proceedings to which the Group is a party, for the purpose of taking responsibility on
behalf of the Group for all or part of those proceedings.
Indemnification and insurance of officers and auditors
During the financial year, the Group paid a premium to insure the Directors and officers of the Group.
The liabilities insured are legal costs that may be incurred in defending civil or criminal proceedings that may be brought
against the officers in their capacity as officers of the Group, and any other payments arising from liabilities incurred by the
officers in connection with such proceedings. This does not include such liabilities (other than legal costs) that arise from
conduct involving a wilful breach of duty by the officers or the improper use by the officers of their position or of information to
gain advantage for them or someone else or to cause detriment to the Company. It is not possible to apportion the premium
between amounts relating to the insurance against legal costs and those relating to other liabilities.
During or since the end of the financial year, the Group has given an indemnity or entered into an agreement to indemnify, or
paid or agreed to pay insurance premiums in favour of its Directors as follows:
a right to access certain Board papers of the Group during the period of their tenure and for a period of seven years after
that tenure ends;
subject to the Corporations Act 2001, an indemnity in respect of liability to persons other than the Company and its related
bodies corporate, that they may incur while acting in their capacity as an officer of the Company or a related body corporate,
except for specified liabilities where that liability involves a lack of good faith or is for legal costs for defending certain legal
proceedings; and
the requirement that the Group maintain appropriate directors’ and officers’ insurance for the officer.
No liability has arisen under these indemnities as at the date of the report.
There is no indemnity cover in favour of the auditor of the Group during the financial year.
Non audit services
The Group may decide to employ the auditor on assignments additional to their statutory audit duties where the auditor’s
expertise and experience with the Group is important and relevant where the nature of the services provided does not
compromise the general principles relating to auditor independence in accordance with APES 110: Code of Ethics for
Professional Accountants set by the Accounting Professional and Ethical Standards Board. There were no additional services
provided by BDO during the year.